Philosophical theories on the nature and origins of morality (that is, theories of meta-ethics) are broadly divided into two classes: Moral realism is the class of theories which hold that there are true moral statements that report objective moral facts.
As an S corporation, no corporate income tax would be levied. And when the income gets allocated to individual shareholders, they will probably pay a maximum rate of 40% to 44%. So that would mean around $400,000 to $440,000 in income taxes and then about $600,000 in leftover after tax profit.
An S corporation elects to take its profits, losses, deductions and credit and pass them through the shareholders before they are subject to federal taxation. An S Corporation is an incorporation type in which a company can avoid double taxation common to a C corporation. An S corporation is taxed on profits only through the tax returns of its shareholders.